Plug Power (PLUG) Gets a Buy Rating from H.C. Wainwright

H.C. Wainwright analyst Amit Dayal maintained a Buy rating on Plug Power (PLUG) today and set a price target of $4. The company’s shares closed yesterday at $1.94.

According to TipRanks.com, Dayal is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -7.9% and a 36.0% success rate. Dayal covers the Industrial Goods sector, focusing on stocks such as Ballard Power Systems, Capstone Turbine Corp, and UQM Technologies Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Plug Power with a $3.60 average price target, implying an 85.6% upside from current levels. In a report released yesterday, Oppenheimer also reiterated a Buy rating on the stock with a $2.50 price target.

Based on Plug Power’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $25.87 million. In comparison, last year the company had a GAAP net loss of $40.98 million.

Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is neutral on the stock.

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Plug Power, Inc. provides alternative energy technology, which focuses on the design, development, commercialization, and manufacture of hydrogen and fuel cell systems used primarily for the material handling and stationary power markets.